Tag Archives: Federal Reserve Bank of St. Louis

Measuring in at 104.6 on the Flash Index for February, there was optimism abound in Illinois at the economic status. This was an increase of a fifth of a point from January, according to the University of Illinois’ economic gauge. And, according to economist Fred Giertz, this figure is the highest it has been since May 2017. With it, the unemployment rate of 4.9 is low too. He said:

“The Illinois economy is doing very well, especially compared to years ago, when we had the recession and major slow-down. But we’re not doing as well as the rest of the country.”

Giertz added that in general, the trends in the Illinois economy is positive, pointing out that this is proof of “an upward trajectory. Unemployment has been going down, but we haven’t move as fast as the national economy. It’s probably not going to propel the economy and the stock market upward in a kind of rapid expansion that seems to be true or what people thought the last couple of months or so.”

In addition, assistant vice president and economist for the Federal Reserve Bank of St. Louis, William R. Emmons said that the Midwestern Illinois economy is at “peak performance. In fact, if anything we may be a little bit past peak performance. The unemployment rate is at the level that is close to ideal, that’s not zero necessarily, there is always some unemployment as people move between jobs.”